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Toronto Hydro 2012 CR Report

INTRODUCTION OUR SERVICES OUR WORKFORCE OUR ENVIRONMENTal
INITIATIVES
OUR COMMUNITY
OUTREACH
OUR ECONOMIC
PERFORMANCE
OUR GOVERNANCE, COMPLIANCE
AND BUSINESS CONDUCT
Message from the Chairman and the President
and Chief Executive Officer (continued)
Take for instance the load growth Toronto is experiencing. More than 50,000 condominium units are under
construction and transforming the skyline — more than any other city in North America. The waterfront area is
in the midst of a major revitalization, transit is expanding and new infrastructure is being installed to host the
Pan/Parapan American Games. Of course, a reliable and safe electricity supply is critical to these projects, and
we are working hard to meet these needs.
While the boundless development across Toronto does present some immediate capacity challenges, our
engineers have developed solutions that will serve us today, tomorrow and for many years to come. These
solutions are included in our capital plans, which outline in great detail our roadmap to renew and reinforce
our aging infrastructure.
In May 2012, we filed a three-year application to the Ontario Energy Board (2012 through 2014), which sought
$1.4 billion in rates funding needed to complete capital construction projects on our aging grid — capital work
which is essential for maintaining the safety and reliability of the distribution system.
While providing safe and reliable distribution of electricity is our first priority, we believe that Toronto must also
have the electrical infrastructure to connect green technology and distributed generation projects; support the
widespread adoption of new technologies; and ensure that our businesses, institutions and industries have the
supply of electricity needed to contribute to the economic prosperity of Toronto for many years to come.
As we forge ahead, continual improvement is a cornerstone of our corporate culture and central to our business
strategy. We’re committed to delivering value to our stakeholders and our shareholder, the City of Toronto.
Accountability, transparency and trust are business values we work hard to uphold. We’re working to improve
relationships with all of our stakeholders, and in 2012, we met with hundreds of people representing various
groups to solicit feedback on our business practices and corporate responsibility program. The insight we
gained was invaluable and we’re looking at how we can incorporate this important feedback into our
business operations.
We would like to thank our Board of Directors, our employees, our shareholder, and countless other stakeholders,
for their support and guidance. It’s an exciting time to be in the energy business.
Sincerely,
Clare R. Copeland A nthony M. Haines
Chairman P resident and Chief Executive Officer
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